Legal Question in Real Estate Law in Virginia

My fiance and I put an offer in a short-sale home in early October, it was accepted by the seller a couple of weeks later and by the end of October both parties had signed the contract. Our relater kept us in the loop of where the bank was the whole time and everything seemed to be going as scheduled. Today we found out that someone at Bank Of America closed our contract that we had with the sellers and changed it to a foreclosure which went to an auction and was sold for 30,000 dollars less than we had bid for the house. What are the legal options we have and do we have a chance to get the house back?


Asked on 12/14/09, 6:36 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

You might wish to have an attorney who handles foreclosure matters to review the short-sale purchase agreement and related facts surrounding the proposed transaction to determine what remedy or recourse you might have (if any) for this unanticipated outcome of your aborted attempt to purchase this

home which then ended up on the bank's auction block, so to speak.

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Answered on 12/20/09, 12:23 pm


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